The Virgin Group

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Transcript of The Virgin Group

The Group Virgin Group is a conglomerate owned by Sir Richard Branson.

Virgin is a privately traded company that has a stake in over 400 companies worldwide and is valued at $7.1 billion.

Some of Virgin's companies are public, such as Virgin Media. Current Performance History of Virgin Group Vision & Mission Board of Directors The Man External Environment External Environment Industry Internal Environment Strength Internal Summary Strategic Alternatives Implementation Steps to a new Virgin 1968 - Branson prints first issue of Student.

Mission - “Create businesses that span many sectors and touch all aspects of our customer’s lifestyles” No encompassing board of directors for the entire company.

Instead, they have a board for each subsidiary of the Virgin brand. Richard Branson and David Baxby are the Co-CEO's of the Virgin Group.

Homogenous, but in a good way. Richard Branson, 62, formed Virgin as a 19 year old. Famous for his quote "Screw it, let's do it!" when approaching new business ventures.

Set many world records and is personal friends with Nelson Mandela, Barack Obama, and the Queen. Owns his own island in the Caribbean for $200,000 General OpportunityTechnological - no R&D means no huge investments to see profit.

ThreatBuyer's Power - Virgin constantly fighting to offer the most value. They have no niche market to rely on. Weakness HRM is key. People love working for Virgin. Exciting, entrepreneurial culture lead by inspired people. No R&D means that Virgin must rely on products and services already on the market and offer them at cheaper prices. Core Competencies Virgin's core competencies include:Brand NameInternal business developmentCulture Key Industries Airline: America, Australia, AtlanticMedia: Mobile, Music, GamingLifestyle: Active, Music, Festivals. Differentiation Downsizing Selling off small companiesin order to prioritize on keyindustries will focus effortand reduce brand name damage. A differentiation strategywill encourage R&D andallow Virgin to produce highquality products and chargehigher prices. 1. Training -Virgin business school that prepares managers for dynamic and diverse business and replicates Branson's successes mental models.